One advocate called the fines "a very important victory in the fight to ensure consumers' safety online." The director of the Norwegian Consumer Council, Inger Lise Blyverket, put out a statement celebrating the ruling, calling it "a very important victory in the fight to ensure consumers' safety online."
Yeah fines for corporations should really be a percentage of yearly revenue, ideally no less than 10%. The current system is ridiculously outdated and has no impact whatsoever.
Fines as a percentage of income is a good idea for individuals but I dont think it works for coorperations.
A more reasonable approach is:
100% of the money they earned/saved by comiting the crime
100% of all damages caused to other people/cost to clean up results of the crime (includes the cost of investigation and prosecution)
a fine that represents the likelihood of getting caught. (If the crime earns me 1mil, the fine is 50mil but I only have a 1% chance to get caught, statistically I should commit the crime as many times as possible because I will end up wining in the end)
(optionally) a fine based on the crime. This one might be based on the size of the company. This is the “punishment” part. It probably should be payed by the individuals responsible and not the company.
This third point is the important one. Cooperations comit crimes because they are reasonable monetary investments. If the expected fines are always higher than the expected earnings, crimes become a bad investment.
In a globally spanning company, it doesn’t make sense to separate it in to different markets like that when it comes to fines for breaking the law IMO. If the same practice that caused this to happen in Norway is profitable elsewhere, nothing is going to change and the Norwegian “mishap” is just cost of doing business.
No it may not be, but it’s one company and I believe they should be fines based on their global revenue, just like the EU fines alphabet, meta and apple. If a fine doesn’t hurt in their global financial picture, they don’t give a shit.
But like I said, I believe global revenue is a better measure for global corporations when it comes to how large fines should be. They have to be large enough to make these companies proactive and not just reactive. 10% of their global revenue is almost 50% of their income, now that is going to make a difference.
Six mill lol what a joke
Yeah fines for corporations should really be a percentage of yearly revenue, ideally no less than 10%. The current system is ridiculously outdated and has no impact whatsoever.
Fines as a percentage of income is a good idea for individuals but I dont think it works for coorperations.
A more reasonable approach is:
This third point is the important one. Cooperations comit crimes because they are reasonable monetary investments. If the expected fines are always higher than the expected earnings, crimes become a bad investment.
I mean 6 million is probably more than they made in the Norwegian market
In a globally spanning company, it doesn’t make sense to separate it in to different markets like that when it comes to fines for breaking the law IMO. If the same practice that caused this to happen in Norway is profitable elsewhere, nothing is going to change and the Norwegian “mishap” is just cost of doing business.
But what might be illegal in Norway isn’t necessarily illegal or finable in other countries
I’m not sure how they Norwegian courts landed on this number though.
No it may not be, but it’s one company and I believe they should be fines based on their global revenue, just like the EU fines alphabet, meta and apple. If a fine doesn’t hurt in their global financial picture, they don’t give a shit.
Grindr had an Operating Income of $55 Million kn 2023
So the fine is over 10%. Still hurts id say
https://investors.grindr.com/news/news-details/2024/Grindr-Inc.-Reports-Fiscal-Year-2023-Revenue-Growth-of-33/default.aspx?ref=platformer.news
But like I said, I believe global revenue is a better measure for global corporations when it comes to how large fines should be. They have to be large enough to make these companies proactive and not just reactive. 10% of their global revenue is almost 50% of their income, now that is going to make a difference.